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Economy 29/05/2008 UAE-Uzbek joint ministerial committee meets

The meeting was attended by senior officials from both countries. Shaikha Lubna noted that the agreements inked by the two countries in recent years included cooperation in many fields such as, agreements on encouragement and protection of investments, double taxation avoidance on income, agreement on economic and commercial cooperation and a memorandum of understanding between the security market authorities in the two countries.

"Despite all these agreements the two countries aspire much for further economic development by opening up business opportunities and striking partnerships by setting up joint projects to exploit untapped investment opportunities," Shaikha Lubna said.

She noted that the trade between the UAE and Uzbekistan “does not meet the high expectations in this respect amid existence of the wider cooperation chances, citing that non-oil trade is remarkably low between the two countries. It increased from US$28 million in 2002 to US$32 million in 2006.
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